Barclays boss Staley faces fine for whistleblowing scandal

20/04/2018

Barclays PLC Chief Executive Jes Staley will keep his job after British regulators concluded his attempts to unmask a whistleblower didn't represent a "lack of integrity" and instead chose to slap the USA executive with a fine.

Crucially, for the board at least, the regulator has not ruled that he breached the "fit and proper" test or that he lacked integrity.

Mr Staley's misconduct was the focus of last year's AGM when shareholders fired a warning shot at the banking chief, with more than 16pc of votes cast failing to back his re-election.

If Staley accepts the findings of the regulators, it would be the first time that a sitting chief executive of a major bank in Britain has been fined by its regulators.

Barclays Bank, which was also the subject of an inquiry following Staley's attempts to identify a whistleblower, is not facing any enforcement action by the FCA or PRA.

In a joint statement the FCA and PRA said they had recently issued confidential draft warning notices setting out their reasons for proposing enforcement actions.

Staley is still being investigated by USA authorities over the incident.

On the Occasion of Israel's National Day
As Israel turns 70, people gather in the streets and beaches to take part in the Independence Day festivities across the country. Liviu Dragnea, de facto leader of the governing coalition and friendly to Israel, confirmed that he supports the move.

Barclays said it will recommend Staley's re-election as a director at its board meeting on May 1.

Its support was based on views that the company and chief executive were cooperating with authorities and that the bank had strengthened its whistleblowing programme.

Staley twice attempted to use Barclays' internal security team to track down the author of two anonymous letters sent to the board and a senior executive at the bank in June 2016. New York's Department of Financial Services was also looking into Staley's behaviour.

Jes Staley is not the only Barclays employee who has been reprieved.

Staley's removal would have led to fears that the underperforming investment bank would face further deep cuts.

"As set out in the April 2017 announcement, the Barclays board will determine what adjustment to Staley' s compensation is appropriate once the FCA and PRA processes have concluded".

Related News:

Theresa May has accused Russian Federation and Syria of trying to cover up a chemical attack which killed dozens last weekend. USA envoy to the OPCW, Kenneth Ward, said: "It is our understanding the Russians may have visited the attack site".

The USGS said it had received thousands of responses from people who said they felt the tremor in the Windsor-Detroit area. Meteorologist David Gurney says earthquakes of the 3.6 magnitude "are rare, but not unheard of" in southeast MI .

Friends said the senior Vance quietly fought for the rights of underprivileged as both a jurist and a politician. Two other mail bombs were later intercepted and defused, including one at an NAACP office in Jacksonville, Fla.

This game will mark the return of Texans quarterback Deshaun Watson , who missed part of last season with a knee injury. Each team is only allowed five night games, so the Patriots will be getting theirs out of the way early.

Apple's other ongoing effort is through its charitable GiveBack program , which aims to encourage recycling of old electronics. We're also thrilled to introduce Daisy to the world, as she represents what's possible when innovation and conservation meet".

Loot boxes on the lower end of the addiction risk potential scale, on the other hand, are more akin to "small-scale bingo". The other six did fall within gambling laws, but were still criticized in how they were implemented.

According to a report in Times of India, Sri Reddy has warned Pawan Kalyan of legal action if he doesn't rein in his fans. Ram somehow always had an ax to grind with Pawan though Pawan had never said anything against Ram in the media at least.

Manchester United goalkeeper , David De Gea , makes the cut, while Tottenham Hotspur provides Harry Kane and Christian Eriksen . Astoundingly, its Aguero's first selection in the side despite a string of prolific seasons since arriving in England.

The new kit is a "red pepper" colour - the same as this season's, which the club say is the most popular in the Reds' history. But the Champions League semi-finalists and New Balance have tinkered slightly with the design of the kit.

Carrie Underwood gave her first public performance since an accident in November left her with a broken wrist and a facial injury. Several members of the country music industry took to Twitter to voice their excitement of seeing Underwood back on the stage.

The raids were ordered by the premier "because of the danger they [terrorists] pose to Iraqi territory", the statement said. It was not immediately clear how many, if any, of the death sentences had been already carried out.

Petrol Prices Rise To 5-Year High, Diesel Costliest Ever
Oil marketing companies in India are pricing petrol and diesel on a daily basis that affects consumers every day. In Kolkata, one-liter diesel on Friday retailed at Rs 68.01, in Mumbai at Rs 69.54 and in Chennai at Rs 68.90.

Jose Bautista: Signs minor-league deal with Braves
The six-time All-Star had 23 home runs and 65 RBIs, while hitting.203 in 157 games last season for the Blue Jays. Bautista played nine full seasons for the Blue Jays and is one of the most popular players in franchise history.

Syrian rebels give up Damascus area town to government
The Western countries say Moscow and Damascus are preventing the inspectors from reaching the site and may be destroying evidence. Syria and its Russian backers deny that government forces were responsible for the reported attack in the town of Douma.

The Equalizer 2: the first trailer lands
The Equalizer 2 is distributed in the Philippines by Columbia Pictures, local office of Sony Pictures Releasing International. Denzel Washington reprises his role as Robert McCall , a man with a very special skill set, in The Equalizer 2 .

Comey memos show Trump's loyalty worries
Comey said in an interview on Thursday with CNN that he was "fine" with the Justice Department turning his memos over to Congress. However, Trump also said "that Putin had told him, 'We have some of the most handsome hookers in the world, '" Comey noted.

Bruins Hopeful Bergeron (Upper-Body) Ready For Game 5
Bergeron had five assists in the first two games while Pastrnak exploded for four goals in the first two games in Boston. At the end of the day, I don't think it will bother them one bit, and in fact, they might bear down a little bit more.